The Cooperstown Food Pantry and the Community Foundation of Otsego County announce the creation of the Cooperstown Food Pantry Fund, a Nonprofit Partner Investment Fund. Nonprofit Investment Funds are a special service the CFOC offers to 501(c)(3) organizations operating in Otsego County.
“We are fortunate that the Food Pantry is supported by our community,” said Pantry Executive Director Mary Kate Kenney. “The CFOC has enabled us to prudently manage our funds, while giving the Pantry organizational support so we can focus on easing food insecurity among neighbors in need.”
“It was important to the Pantry, which serves the community, to partner with another community-focused organization.” Board President Sharon Oberriter said. “By investing with CFOC we are investing in the sustainability of the Pantry. The CFOC is a perfect fit for us.”
“The Pantry is deeply loved in the community and has been supported for decades by donors large and small,” added CFOC Executive Director Jeff Katz. “This new Fund will allow CFOC to help the Pantry with financial oversight, and also create a new way to donate through the CFOC website, including processing stock transfers, bequests, and other complex gifts.”
The CFOC Nonprofit Partner Investment Program assists local nonprofits with investment management, accepts gifts from their supporters, and monitors their investment activities. With this program CFOC can:
- Invest, account, and acknowledge gifts so a nonprofit can focus on its mission
- Establish an endowment fund (with or without restrictions) to give a nonprofit permanence and sustainability
- Enable a nonprofit to receive complex gifts, bequests and credit card payments
- Design specific criteria that address a nonprofit’s investment goals and then invest in pools of assets that meet these criteria
- Welcome a nonprofit in supporting our local community
The Cooperstown Food Pantry addresses issues of food insecurity and poverty across northern Otsego County. In its 45thyear the Pantry works with community partners, volunteers, and the Regional Food Bank of Northeastern New York to provide comprehensive services and a welcoming, respectful experience for those who use the Pantry. Information about the Cooperstown Food Pantry is found at cooperstownfoodpantry.org
Information on the Community Foundation of Otsego County’s Nonprofit Partner Investment Fund Program is found at cfotsego.org or email contact@cfotsego.org
